Geodnet (GEOD) is 1.2× the size of Axie Infinity (AXS) by market capitalisation. Their daily returns move closely together (correlation 0.61 across 56 shared trading days). AXS has been the more volatile of the two, at 121% annualised against GEOD's 74%.
GEODAXS
0.61over 56 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | GEOD | AXS |
|---|---|---|
| Max drawdown (400d) | -18.1% | -72.0% |
| Risk-adjusted return (90d) | 0.15 | -0.04 |
| Best 30 days (past year) | — | +248.7% |
| Worst 30 days (past year) | — | -55.5% |
Relative strength over 90 days: GEOD outperformed AXS by 10.0% — measured on the GEOD/AXS ratio, so it holds regardless of market direction.